Technical Notice

TRACE Reporting and Dissemination of Non-member Affiliate Transactions

May 19, 2015

On Monday, November 2, 2015, FINRA will implement TRACE changes for trade reporting and dissemination of affiliate trades, as outlined in Regulatory Notice 15-14. An affiliate is a non-member entity that controls, is controlled by or is under common control with a FINRA member, as further defined under FINRA Rule 6710.

TRACE Securitized Products and Corporate and Agency Debt trade reporting users and TRACE market data consumers must accommodate the changes to identify affiliate TRACE transactions on November 2 in order to comply with these rules.

TRACE Reporting Changes

Introduce new value "A" to identify the contra party on a trade as an affiliate.
Introduce new value "A" to the Special Processing Indicator to identify whether the affiliate trade is subject to dissemination, based on FINRA Rule 6730(d)(4)(E).

TRACE Dissemination

Introduce new value "A" to the Contra Party Type field on all TRACE data feeds to identify affiliate trades (that are subject to dissemination based on FINRA Rule 6730(d)(4)(E)).

Related TRACE fixed income specification changes and links to the updated specifications: